RMG News Flash on 23rd Nov 2016

November 23, 2016

Some new highlights relevant to RMG sector:

• TPP: US President-elect, Donald Trump promises to quit the Trans-Pacific Partnership (TPP), worries Japan while Australia states that it plans to go ahead nonetheless. Experts think Bangladesh needs to consider being part of the TPP as the negotiation might be revised without USA participating.
• Cotton Consumption: US Department of Agriculture reports, cotton consumption in Bangladesh to rise 4.91 per cent year-on-year to 6.4 million bales this year due to higher demand from the apparels industry.
• Indian Rupee: The shock of demonetisation of high value Indian rupee notes is likely to negatively impact India’s GDP by 0.5 to 1.0 per cent.